MANILA (Reuters): The Philippines, one of Asia's most active issuers of sovereign debt, plans to raise as much as 629 billion pesos (US$10.75 billion) via treasury bills and bonds in the first quarter, its Bureau of the Treasury has announced.
The bureau would hold weekly auctions for 91-day, 182-day and 364-day T-bills in the January to March period, offering up to 22 billion pesos at each.
It would also offer T-bonds weekly in the first quarter.
The South-East Asian nation plans to raise 125 billion pesos each in January and March, and 115 billion pesos from T-bonds in February, the bureau said in a posting on its website on Monday.
Meanwhile, The Philippine government posted a 213 billion pesos ($3.67 billion) budget deficit in November, the Bureau of the Treasury has confirmed.
It brought the January to November budget deficit to 1.18 trillion pesos, wider than the 1.11 trillion gap in the same period last year.
The budget balance remains well within the target, representing 79.3% of the 1.5 trillion pesos full-year programme, the treasury agency said in a statement. - Reuters
